THM Financial Planning Client News
|
|
- Kerry Knight
- 5 years ago
- Views:
Transcription
1 THM Financial Planning Client News Q1: 2016
2 I have pleasure in sending you the latest edition of our regular newsletter. I hope that the New Year has started well for you and that you didn t break your New Year resolutions too early! Any hopes for a quiet start in the world of investment were dashed almost immediately, with problems in China causing stock market volatility. Our first article shows the important numbers for January. That alone might be good reason to make sure that your investments and savings are on track to meet your needs. Steven Clemence Chartered Financial Planner In this edition: 1. The longest January on record? 2. Many big changes to personal finances in UK consumers set to waste 4.6 billion in unnecessary tax payments 4. Winners and losers from new 155 state pension 5. Inheritance tax receipts to rise 6. Pensions: excessive early exit fees to be capped
3 The longest January on record..? Investment markets did get off to a miserable start in 2016 but, as ever, the headlines for the falls were bigger than the ones for the rallies. And don t get too concerned by just one month s performance if you tailor your portfolio to your needs and appetite for investment risk. Here are the scores on the doors; if you weren t invested in metals in January, the return was negative. The large fall in China s stock market had a knock-on effect worldwide. The January turbulence in world stock markets, with many entering bear market territory, has been variously blamed on: Concerns about China, in terms of future growth, the currency, the equity market and bad debts. The fall in the price of oil. Usually a falling oil price is greeted as good news, akin to a tax cut for consuming countries, but this time there have been worries about the sovereign wealth funds of oil-rich nations being forced to liquidate holdings in an effort to replace lost oil revenues. Worries that the US Federal Reserve has started raising rates too soon. In the UK, Mark Carney as good as acknowledged a rate rise is now unlikely before Brexit worries are beginning to appear. As the table shows, Sterling had a poor month, with substantial declines against the dollar, yen and euro. Lost in all the attention given to the equity markets was the fact that Government bond markets benefitted from the turbulence, which is why the Gilt yield declined. January was a see-saw month, but it was also a reminder of the benefits of diversification both in terms of currencies and spread of assets. Past performance is not a guide for the future. The value of investments may fall as well as rise. Currency fluctuations can also affect performance.
4 Many big changes to personal finances in 2016 This year will bring good news for some (with no tax being deducted on interest) and bad news for others (buy-to-let investors will pay more stamp duty). There will also be more changes to the ISA regime with new investment opportunities and a new dividend allowance. But don t be concerned about coping with all the changes. Rather than write reams about every change or significant date, what I have done is listed them all below and if anything catches your eye that you need to know more about, just get in touch. Steven Clemence financialplanning@thmarch.co.uk Tel: big financial events in Savers deposit protection reduced on 1 January 2016 and this has now fallen to 75, Budget Day is on Wednesday, 16 March 3. A consultation begins on selling your annuity in the Spring 4. Stamp duty rises by 3% for buyers of additional properties on 1 April 5. The new tax year brings with it two new income tax allowances and several other changes: 6. Personal Savings Allowance of 1,000 (basic rate taxpayers), 500 (higher rate taxpayers) or zero (additional rate taxpayers) 7. New dividend allowance of 5,000 introduced; if you receive equity income you need to know what changes 8. Bank and building society interest will be paid gross once the Personal Savings Allowance starts 9. The new single rate state pension becomes payable 10. The Lifetime Allowance or the maximum you can have in a pension fund is reduced to 1 million; if this affects you, take action now to preserve the old higher allowance 11. The Scottish Rate of Income Tax starts to apply (albeit there is no overall change in the tax rate, currently) 12. ISAs will be able to hold peer-to-peer investments and crowd funding debt securities, plus you will be able to withdraw and then later replace money in your ISA in the same tax year, without losing your tax relief
5 UK consumers set to waste 4.6 billion in unnecessary tax payments UK consumers will save around 1 billion of unnecessary tax payments in 2016 due to more people joining workplace pension schemes, according to new research from unbiased.co.uk. In total 4.6 billion is set to be wasted this year (or 159 per taxpayer) across the areas of IHT, CGT and income tax (due to people not making good use of pensions and ISAs). Yet Brits are still set to hand over 4.6 billion in unnecessary tax payments this year. In 2015 there were 8.7 million people without any pension contributions, collectively wasting 2.9 billion in lost tax relief this is now down to 7 million people paying nothing into pensions, thus reducing the wastage to 1.9 billion. However, deterioration in other areas of tax waste means the net saving is only 300 million.
6 Winners and losers from new 155 state pension The Government is being accused of failing to warn future losers from the pending state pension overhaul that they need to make up the shortfall while they still have time. They have said the new state pension in April will make millions of people better off, with 75% of people set to gain in the first 15 years. That doesn t help the 25% who will be worse off! By 2030, over three million men, and over three million women will have benefited from a notionally higher state pension. This proportion then begins to gradually diminish over time, falling to around twothirds by 2040 and just over half by 2050, says a paper from the Department for Work and Pensions Minister for Pensions, Baroness Altmann said: Huge efforts have been put into reforming the mindblowingly complicated State Pension system that exists today into something that, over time, will be clearer for everybody. Many people may not totally agree with her, as trying to work out what you will get under the new state pension can easily be just as mindblowing. But anyone aged 55 or over can apply for a personalised state pension statement, which will give them an estimate of what they will get under the new system. This will be based on their work history and NI contributions to date, including information on their past contracting out record. So it may be easiest to just request this, from state-pension-statement. If you do not have access to the internet, call (from outside the UK, call: +44 (0) ) We are told that women reaching state pension age over the next 5 years will receive, on average, approximately 190,000 of state pension over the course of their retirement. The equivalent figure for men is approximately 170,000.
7 Inheritance tax receipts to rise The Office for Budget Responsibility has announced that the number of families paying IHT is at a 35 year high. This is due primarily to the combination of property price increases and the frozen nil rate band. The nil rate band is the amount that you can leave to your family without 40% IHT being levied. It is currently 325,000 for each person and has been that since It will now stay at that level, impervious to inflation and rising house prices, until To take an admittedly exaggerated example, the average house price in London rose 64% to 531,000 in the 6 years to October 2015 whilst the nil rate band did not increase one iota. Almost three times as many estates are expected to be subject to IHT this year compared, with six years ago. But there is some hope for those families who have to suffer tens of thousands in tax, an additional nil rate band for the family home starts to takes effect next April (2017). This will start at 100,000 for each person ( 425,000 in total) increasing incrementally each year to 175,000 ( 500,000 in total) in But if you have an estate worth more than 2 million, it starts to get taken away again! While this additional residence nil rate band will clearly provide help, there are many conditions that have to be fulfilled. For example, the family home has to be left to a direct descendant of yours. If you are concerned about your family paying a large tax bill when you have gone, please get in touch and I can tell you how it applies in your situation and what you can do about it. Pensions: excessive early exit fees to be capped The Chancellor, George Osborne, has announced at Treasury Oral questions in the House of Commons that he will cap excessive exit charges for those looking to access their pension pot. He outlined proposals to place a duty on the Financial Conduct Authority to cap excessive early exit charges for those eligible to access the pension freedoms. The new duty, introduced through legislation, will form part of the response to the Government s Pension Transfers and Exit Charges consultation, and will help people take full advantage of the new flexibilities. Nearly 700,000 (16%) customers in contract-based schemes who are able to flexibly access their pension could face some sort of early exit charge. A significant minority faced charges that were high enough for the Government to consider that they effectively put them off accessing their pension flexibly. The Government will shortly publish its formal response to consultation that looked at ways of making the process for transferring pensions from one scheme to another quicker and smoother. If you are considering cashing in your pension pot, make sure you weigh up all the options before acting. Contact us for more information.
8 The information regarding taxation is based on our understanding of law, HM Revenue & Customs practice and current legislation, which may be altered and depends on the individual financial circumstances of the investor. T.H. March Financial Planning Limited Registered in England No T.H. March Financial Planning Limited is Authorised and Regulated by the Financial Conduct Authority. You may check this at the FCA s register by visiting the FCA website or by contacting the FCA on
In this issue: Spring Tax planning ahead of the spring Budget. Highlighting the Autumn Statement. New tax rules for dividends and interest
QI Spring 2016 In this issue: Tax planning ahead of the spring Budget Highlighting the Autumn Statement New tax rules for dividends and interest istock/best-photo Shoud you still plan for inheritance tax?
More informationWealth. Your window on WINTER In this edition
Thomson Cooper Accountants Dunfermline: 01383 628800 Edinburgh: 0131 226 2233 E: info@thomsoncooper.com W: www.thomsoncooper.com Your window on Wealth WINTER 2019 In this edition What money rules would
More informationYour year end checklist: time to focus
Spring 2017 Your year end checklist: time to focus In this issue: Estate planning with your pension Buy-to-let: a taxing issue Curtains for the Autumn Statement Your shrinking pension allowances 2 Spring
More informationGuide to buying an annuity
Guide to buying an annuity 2 Welcome to our guide to buying an annuity You now have more choice than ever before when it comes to using your pension savings. Of course having more options can make it difficult
More informationthe second budget report 2015
iness ax savings and personal pensions VAT what will he say? National Insurance Contributions the second budget report 2015 A summary of the Chancellor s Statement www.hwca.com The Second Budget 2015 George
More information*Correct at 10 February 2015 YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Issue 11 Spring 2015 Viewpoint Your latest newsletter from Sanderson Financial Ltd Low rates, why wait? UK interest rates have been at the record low of 0.5% since March 2009. Although recent growth in
More informationGUIDE TO RETIREMENT PLANNING MAKING THE MOST OF THE NEW PENSION RULES TO ENJOY FREEDOM AND CHOICE IN YOUR RETIREMENT
GUIDE TO RETIREMENT PLANNING MAKING THE MOST OF THE NEW PENSION RULES TO ENJOY FREEDOM AND CHOICE IN YOUR RETIREMENT FINANCIAL GUIDE Green Financial Advice is authorised and regulated by the Financial
More informationProsperity Wealth Creation LLP
Prosperity Wealth Creation LLP Adviser Winter 2018 Are you protected against loss of income due to unemployment, illness or accident? In this issue: Protect the things that matter It might be time to update
More informationCullen Wealth guides. A guide to ISAs. A guide to ISAs
ISAs a simple explanation An ISA is an Individual Savings Account. As the name suggests, these are accounts that can be accessed by individuals (you cannot have an ISA in joint names). ISAs were introduced
More informationTrick or treat? The Chancellor calls the 2018 Budget for late October
Trick or treat? The Chancellor calls the 2018 Budget for late October The 2018 Budget has been set for Monday 29 October, setting a deadline for speculation and proposals. Mr Hammond, however, has indicated
More informationCLARKS FLEXIBLE PENSION SCHEME YOUR MEMBER GUIDE
CLARKS FLEXIBLE PENSION SCHEME CLARKS FLEXIBLE PENSION SCHEME YOUR MEMBER GUIDE Page 1 1 WHY DO I NEED A PENSION? EVERYONE HAS A DIFFERENT IDEA OF WHAT THEY WANT IN THEIR LATER YEARS. MANY PEOPLE WILL
More informationYOUR QUESTIONS ANSWERED.
PENSION FREEDOMS YOUR QUESTIONS ANSWERED. We ve put together some information to help you understand the options available if you re thinking about accessing your pension pot. This booklet should be read
More informationSlide 1. Introduction
World Bank Seminar script. Slide 1 Introduction Peter Dinsdale is an World Bank retiree with experience of retiring and returning to the UK having sold up in the US and jumped through all of the necessary
More informationYOUR QUESTIONS ANSWERED.
PENSION FREEDOMS YOUR QUESTIONS ANSWERED. We ve put together some information to help you understand the options available if you re thinking about accessing your pension pot. This booklet should be read
More informationThe New Pension Freedom Rules
The New Pension Freedom Rules Contents Introduction A Pensions Revolution 3 The New Rules Key Points 4 The Finer Detail The New Freedom to draw your Pension from 55 6 The New Death Tax Rules 7 New Restrictions
More informationCustomer Guide Prudence Inheritance Bond
Customer Guide Prudence Inheritance Bond Prudence Inheritance Bond Inheritance tax might be called the voluntary tax as there is much that you can do to reduce it or not pay it at all. Inheritance Tax
More informationT e c h n i c a l S a l e s B r i e f i n g
This briefing is directed at professional advisers only and it should not be distributed to, or relied upon by, retail clients. Utmost Wealth Solutions is the brand name used by a number of Utmost companies.
More informationIn this issue: Summer Budget 2016 tax changes: new moves. Can you really avoid inheritance tax? Stay covered for the rainy days
Summer 2016 In this issue: Budget 2016 tax changes: new moves Can you really avoid inheritance tax? Stay covered for the rainy days How much lower for longer? Don t fall into the gifting tax traps istock/aragami123345
More informationFEATURES AND BENEFITS OF ONSHORE INVESTMENT BONDS.
ONSHORE INVESTMENT BONDS FEATURES AND BENEFITS OF ONSHORE INVESTMENT BONDS. This is not a consumer advertisement. It is intended for professional financial advisers and should not be relied upon by private
More informationProtection & Investment Ltd
istockphoto.com/frank Rotthaus Spring 2012 Protection & Investment Ltd Independent Financial Advisers In this issue: The tax year-end approaches The pensions revolution continues Investing for growth Autumn
More informationPrivate Client Briefing
chartered accountants & tax advisers Private Client Briefing Spring 2018 Articles in this edition Annual planning opportunites Residential landlords restrictions on mortgage interest Making tax digital
More informationTax Planning for the New Tax Year 5th April 2015
ROBINSONS Chartered Accountants 5 Underwood Street, London N1 7LY Tel: Email: Website: 020 7684 0707 Follow us on Twitter: @robinsonslondon Tax Planning for the New Tax Year 5th April 2015 (Your guide
More informationProtection & Investment Ltd
Spring 2013 Protection & Investment Ltd Independent Financial Advisers photodisc/jason Reed In this issue: Tax saving ahead of the tax year-end The Chancellor s tax surprises Time to go east? Inflation:
More informationStakeholder Pension. The simple way to start a pension plan. Retirement Investments Insurance Health
Stakeholder Pension The simple way to start a pension plan Retirement Investments Insurance Health Introduction Any decision you make about investing for your future retirement needs careful consideration
More informationYOUR GUIDE TO RETIREMENT SAVINGS
YOUR GUIDE TO RETIREMENT SAVINGS CONTENTS PAGE 3 WHAT IS THE SCOTTISH WIDOWS RETIREMENT SAVER (THE PLAN)? PAGE 4 CAN I RELY ON THE STATE ALONE? WHAT ARE MY ALTERNATIVES? PAGE 5 HOW DO I JOIN? WHAT ARE
More informationTax policy guidelines
Tax policy guidelines For adviser use only Contents Tax policy guidance 3 Steps to be taken 4 Maximising tax allowances 5 Managing tax rates 7 Maximise tax privileged wrappers 9 Inheritance 9 Appendix
More informationB r i e f i n g. 2 9 O c t o b e r
This briefing is directed at professional advisers only and it should not be distributed to, or relied upon by, retail clients. Utmost Wealth Solutions is the brand name used by a number of Utmost companies.
More informationMARCH 2016 BUDGET. The annual allowance for high earners will be reduced to between 10,000 and 40,000 - the tapered annual allowance (see below).
MARCH 2016 BUDGET SUMMARY After months of press speculation about a possible fundamental change to the pension tax regime, no further significant changes were announced. However, there were some technical
More informationGuide to. buying an annuity
Guide to buying an annuity 2 Guide to buying an annuity Welcome to our guide to buying an annuity You now have more flexibility than ever before when it comes to using your pension savings. Of course all
More informationYour retirement. A guide for members of Pace DC. Co-operative Bank Section August 2018
Your retirement A guide for members of Pace DC Co-operative Bank Section August 2018 Contents 1. Thinking about retirement? 3 2. How to decide when to retire 4 So, when s the right time to retire? 5 Budgeting
More informationTax planning ahead of the spring Budget
Spring 2016 Tax planning ahead of the spring Budget In this issue: New tax rules for dividends and interest Should you still plan for inheritance tax? Highlights from the Autumn Statement Interest rates
More informationFor adviser use only. Not approved for use with customers. Relevant Life Insurance Introducing Relevant Life Insurance
For adviser use only. Not approved for use with customers. Relevant Life Insurance Introducing Relevant Life Insurance Introducing Relevant Life Insurance We ve designed Relevant Life Insurance specifically
More informationTaking an income from your retirement savings The Trust Retirement Guide
Taking an income from your retirement savings The Trust Retirement Guide Your money, your choice The longest holiday of your life - you may have been dreaming of all the things you plan to do when you
More informationVAILLANT GROUP PENSION SCHEME. Pension Newsletter. November Your Defined Benefit Scheme
VAILLANT GROUP PENSION SCHEME Pension Newsletter Your Defined Benefit Scheme November 2016 2 Member s message Welcome to this year s edition of your Pension Newsletter, keeping you updated on matters affecting
More informationWORKPLACE SAVINGS GUIDE
WORKPLACE SAVINGS GUIDE START HERE. We understand that pensions can be confusing and difficult to understand. That s why we ve created this guide, to explain to you how they work and why they re so important
More informationTax-efficient investments for business owners. An Octopus guide for professional advisers
Tax-efficient investments for business owners An Octopus guide for professional advisers Important information For professional advisers only and not to be relied upon by retail investors. The value of
More informationYour guide to retirement savings. Start
Your guide to retirement savings Start What is the Zurich Retirement Saver (the plan)? 3 Can I rely on the State alone? 4 What are my alternatives? 4 How do I join? 5 What are the payments? 5 How regular
More informationWORKPLACE PENSIONS REPORT
WORKPLACE PENSIONS REPORT 2016 Workplace Pensions Report 2016 FOREWORD RONNIE TAYLOR PENSIONS DIRECTOR SCOTTISH WIDOWS HOW WELL ARE UK WORKERS SAVING? In recent years, Scottish Widows research has shown
More informationTHE ARMED FORCES STAKEHOLDER PENSION SCHEME A GUIDE TO HELP YOU PREPARE FOR THE RETIREMENT YOU WANT
THE ARMED FORCES STAKEHOLDER PENSION SCHEME A GUIDE TO HELP YOU PREPARE FOR THE RETIREMENT YOU WANT The Official Armed Forces pension scheme is provided by Scottish Widows. SUPPORTING LITERATURE AND TOOLS
More informationYour retirement. A guide for members of the defined contribution section of Pace. April 2017
Your retirement A guide for members of the defined contribution section of Pace April 0 Contents 0. Thinking about retirement?. How to decide when to retire So, when s the right time to retire? Budgeting
More information60 MINS CPD COURSE MONEY PURCHASE PENSION INCOME OPTIONS
60 MINS CPD COURSE MONEY PURCHASE PENSION INCOME OPTIONS INTRODUCTION THE FREEDOM AND CHOICE REFORMS INTRODUCED NEW PENSION INCOME OPTIONS FOR MONEY PURCHASE SCHEMES. THIS COURSE EXPLAINS THE RANGE OF
More informationStakeholder pensions and decision trees
Stakeholder pensions and decision trees How stakeholder pensions work and when they are a good choice for saving for retirement The options available Things to consider Deciding if a stakeholder pension
More informationDo you have too much money invested in cash?
Issue 0 Winter 04/5 Financial Viewpoint Your latest newsletter from Unique Financial Planning Do you have too much money invested in cash? Is your Cash ISA under attack from inflation? If you started saving
More informationKey Features of the Group Stakeholder Pension Scheme. This is an important document which you should keep in a safe place.
Key Features of the Group Stakeholder Pension Scheme This is an important document which you should keep in a safe place. Welcome to your Key Features Document. It explains all the important information
More informationRETIREMENT A NEW BEGINNING
RETIREMENT A NEW BEGINNING 2 YOUR RETIREMENT. YOUR Contents More choice, more freedom, more decisions 4 Getting ready for retirement 6 Understanding what happens in the event of your death 7 Navigating
More informationAdd power to your investment potential Choose an M&G ISA
Add power to your investment potential Choose an M&G ISA Contents What is an ISA?... 3 The key benefits of ISA investing... 4 Reasons to invest in The M&G ISA... 6 What is a Junior ISA?... 7 The key benefits
More informationADD POWER TO YOUR INVESTMENT POTENTIAL, CHOOSE AN M&G ISA
ADD POWER TO YOUR INVESTMENT POTENTIAL, CHOOSE AN M&G ISA 2 CONTENTS What is an ISA? 3 The key benefits of ISA investing 4 Reasons to invest in The M&G ISA 6 What is a Junior ISA? 7 The key benefits of
More informationDSV UK GROUP PENSION SCHEME Your Guide to Making Investment Decisions October 2015
DSV UK GROUP PENSION SCHEME Your Guide to Making Investment Decisions October 2015 Issued on behalf of DSV Pension Trustees Limited (Trustee of the DSV UK Group Pension Scheme) DSV UK GROUP PENSION SCHEME
More informationTECHTALK ANSWERS ISA, LISA OR PENSION? We compare the main features and benefits of ISAs, LISAs and pensions.
TECHTALK This article originally appeared in JAN 18 edition of techtalk. Please visit www.scottishwidows.co.uk/techtalk for the latest issue. TECHTALK ANSWERS ISA, LISA OR? We compare the main features
More informationPensions freedom drawing from your pension
KEY GUIDE Pensions freedom drawing from your pension Radical reform The changes announced in the 2014 Budget were described by some retirement planning experts as a pensions revolution. The radical proposals
More informationGUIDE TO YOUR RETIREMENT. Your choices explained. Pensions
GUIDE TO YOUR RETIREMENT Your choices explained Pensions 2 Please read this guide in conjunction with the Money Advice Service guide Your pension: it s time to choose which is included with your Retirement
More informationInheritance tax planning: could your pension be the answer?
The essential consumer guide to making your money work harder. Inheritance tax planning: could your pension be the answer? Rule changes to pensions make them a more attractive option for addressing a tax
More informationWorkplace pensions AUTO ENROLMENT HAS TAKEN OFF
Workplace pensions AUTO ENROLMENT HAS TAKEN OFF INTRODUCTION The Government introduced auto enrolment to help more people save for their future. It means your employer will have to give you access to a
More informationKEY GUIDE. Saving for retirement
KEY GUIDE Saving for retirement Thinking ahead Retirement is something most of us look forward particularly on a Monday morning. However, those thoughts are often little more than a whimsical cocktail
More informationRetirement Investments Insurance. Pensions. made simple TAKE CONTROL OF YOUR FUTURE
Retirement Investments Insurance Pensions made simple TAKE CONTROL OF YOUR FUTURE Contents First things first... 5 Why pensions are so important... 6 How a pension plan works... 8 A 20 year old needs to
More informationOn track. with The Wrigley Pension Plan
Issue 2 September 2013 On track with The Wrigley Pension Plan Pensions: a golden egg? There s a definite bird theme to this edition of On Track. If you want to add to your nest egg for retirement, we ll
More informationYour guide to retirement savings and fund choices. The Merck Group 2006 Pension Scheme
Your guide to retirement savings and fund choices The Merck Group 2006 Pension Scheme Contents What is The Merck Group 2006 Pension Scheme (the plan)? 3 Can I rely on the State alone? 4 What are my alternatives?
More informationGuidance on your fund choices
October 2016 Guidance on your fund choices WPP Pension and Savings Plan Start Introduction Your investment choices The WPP Mercer Target Drawdown Retirement (the default Mercer Smartpath) The other Mercer
More informationCollective Retirement Account
Key features of the Collective Retirement Account The Financial Conduct Authority is a financial services regulator. It requires us, Old Mutual Wealth, to give you this important information to help you
More informationWelcome 4. About your pension 5. What s so great about a workplace pension? 6. How your money is invested 7
Member Booklet Contents Welcome 4 About your pension 5 What s so great about a workplace pension? 6 How your money is invested 7 Transferring other pensions to NOW: Pensions 9 Making changes to your pension
More informationAlliance Trust Savings Platform Products Key Facts for Advised Clients
Alliance Trust Savings Platform Products Key Facts for Advised Clients June 2018 2 Key Facts: Alliance Trust Savings Platform Products CONTENTS This is a Key Facts Document (KFD) giving you important information
More informationCash ISAs. Important information and Key Facts
Cash ISAs Important information and Key Facts We d like to help your savings grow faster. Some of us are seasoned savers. Others just starting out. But one thing s for sure, it always makes good sense
More informationPension Lifetime Allowance Guide
Pension Lifetime Allowance Guide Your solution to high value pensions Inside this edition: Lifetime allowance changes How to protect your pension Unique solution to lifetime allowance issues The impact
More informationIHT GUIDE. Inheritance Tax Guide 2013/14
IHT GUIDE Inheritance Tax Guide 2013/14 1 Introduction From 9th October 2007, it is now possible for spouses and civil partners to transfer their nil rate band allowances so that any part of the nil-rate
More informationMarch 2012 Budget Statement. The key announcements by the Chancellor are outlined below.
March 2012 Budget Statement The key announcements by the Chancellor are outlined below. Pensions Tax relief The Chancellor introduced major changes to pension tax reliefs in last year s Budget. Despite
More informationContents. 1. Use your ISA allowance. 2. Dividend allowance cut. 3. Carry forward any unused annual allowance in your SIPP
10 top tips for tax-year-end planning 2018 Contents 1. Use your ISA allowance When it comes to ISA allowances, the message is simple. Use it or lose it. And use it early. 2. Dividend allowance cut In 2018,
More informationYour guide to saving for retirement The Trust Guide
Your guide to saving for retirement The Trust Guide Saving for your future Aims of the Trustee Board It s important to consider your needs and goals for retirement as early as you can, so you have the
More informationHelping you grow your retirement income
Helping you grow your retirement income The FundsNetwork Pension 1 The benefits you ll enjoy with the FundsNetwork Pension: A full range of tax benefits receive tax relief on contributions, tax-efficient
More informationAutumn Statement Financial Planning Summary
Autumn Statement 2015 Financial Planning Summary Jigar Mehta & Heather Richards 25 November 2015 Contents 1 Key Announcements from Autumn Statement 2015... 4 1.1 Tax rates and bands... 4 1.2 State pensions...
More informationYEAR END TAX PLANNING
2015/16 YEAR END TAX PLANNING 2015/16 Introduction Income Tax Tax-efficient Investments Social Investment Tax Relief Residential Landlords Restrictions on Mortgage Interest Dividend Tax Credit Pensions
More informationAn update from Pace. What s inside this issue? Autumn 2014
An update from Pace Autumn 2014 Welcome to our annual update. The big news this year is that the Government wants to change the pensions rules to give you even more flexibility and freedom to use your
More informationGUIDE TO YOUR RETIREMENT. Your choices explained. Pensions
GUIDE TO YOUR RETIREMENT Your choices explained Pensions 2 Please read this guide in conjunction with the Money Advice Service guide Your pension: it s time to choose which is included with your Retirement
More informationKey Features of the WorkSave Pension Plan. This is an important document which you should keep in a safe place.
Key Features of the WorkSave Pension Plan This is an important document which you should keep in a safe place. Welcome to your Key Features Document. It explains the important information you need to know
More informationintroduction to ISAs Your guide to investing in ISAs
introduction to ISAs Your guide to investing in ISAs 2 what is an ISA? ISA is short for Individual Savings Account. With most forms of saving and investment, any income received or gains you make are subject
More informationFinancial Services Ltd
Financial Services Ltd Adviser Spring 2018 Don t let your family fall into the inheritance tax trap In this issue: Inheritance tax is under the spotlight Careful planning can protect your legacy The lifetime
More informationAviva Personal Pension
Retirement Investments Insurance Aviva Personal Pension Customer Booklet Contents 10 good reasons to start a pension 3 Introducing the Aviva Personal Pension 4 Aviva Online 5 Is the Aviva Personal Pension
More informationALTERNATIVE INVESTMENT MARKET
ALTERNATIVE INVESTMENT MARKET Introducing the Charlotte Square Tax Friendly Portfolio in the Alternative Investment Market (AIM) Direct Access to Europe s largest and most established stock market for
More informationHelping you understand inheritance tax planning
Helping you understand inheritance tax planning As Benjamin Franklin said, In this world nothing is certain but death and taxes. Inheritance tax (IHT) is where the two meet up. It is a tax on what you
More informationSUPPLEMENTARY INFORMATION DOCUMENT The NFU Mutual Select Investment Plan The NFU Mutual Select Individual Savings Account (ISA) INVESTMENTS
SUPPLEMENTARY INFORMATION DOCUMENT The NFU Mutual Select Investment Plan The NFU Mutual Select Individual Savings Account (ISA) INVESTMENTS SUPPLEMENTARY INFORMATION DOCUMENT The NFU Mutual Select Investment
More informationLOOK FORWARD TO MORE CHOICE MORE FREEDOM. A guide to Income Release. Pension Portfolio
LOOK FORWARD TO MORE CHOICE MORE FREEDOM Pension Portfolio A guide to Income Release 2 A GUIDE TO INCOME RELEASE CONTENTS 03 Welcome A few words from our CEO 06 Share our success How your ProfitShare works
More informationJoin us online! Get started. inside this issue: reasons to register. More than 34,000 RPS members have registered online for myrps have you?
February 2017 issue 68 Join us online! More than 4,000 RPS members have registered online for myrps have you? MyRPS is a secure area of your railways pensions website, where you can find your own personal
More informationMAKING THE MOST OF A LUMP SUM
MAKING THE MOST OF A LUMP SUM 2 Making the most of a lump sum CONTENTS 03 Getting started 04 Initial considerations 07 Covering the basics 09 Setting priorities for the rest 11 Investing for the future
More informationPENSION BENEFITS GUIDE HOW YOU CAN USE YOUR PENSION POT TO SUIT YOUR NEEDS
PENSION BENEFITS GUIDE HOW YOU CAN USE YOUR PENSION POT TO SUIT YOUR NEEDS With the flexibility you have to take benefits through your pension, it can be difficult to know what s best for you and your
More informationPENSIONS SUMMARY IMPACT
SUMMARY IN A VERY QUIET BUDGET, THE MAIN ISSUES AFFECTING THE FINANCIAL SERVICES INDUSTRY HAD ALREADY BEEN ANNOUNCED, SUCH AS THE CPI-LINKED INCREASE IN THE LIFETIME ALLOWANCE. THE DETAILS AND OPPORTUNITIES
More informationUK tax year end planning. Optimise your affairs before the end of the 2017/18 tax year and prepare for the year ahead
UK tax year end planning Optimise your affairs before the end of the 2017/18 tax year and prepare for the year ahead Page 1 Contents UK tax planning: 2017/18 tax year end... 2 Year end tax planning checklist...
More informationKEY GUIDE. Pensions and tax planning for high earners
KEY GUIDE Pensions and tax planning for high earners The rising tax burden on income If you find more and more of your income is taxed at over the basic rate, you are not alone. The point at which you
More informationFidelity Wealth Service
Fidelity Wealth Service Dear Investor, New opportunities. The perfect property. The ideal retirement. Or maybe just the freedom to make it up as you go along. At Fidelity Wealth, we know every investor
More informationPENSIONS SUMMARY IMPACT FOR EMPLOYER USE ONLY
FOR EMPLOYER USE ONLY SUMMARY IN A VERY QUIET BUDGET, THE MAIN ISSUES AFFECTING THE FINANCIAL SERVICES INDUSTRY HAD ALREADY BEEN ANNOUNCED, SUCH AS THE CPI-LINKED INCREASE IN THE LIFETIME ALLOWANCE. PENSIONS
More informationPLAN, PREPARE MAKING NEW YEAR S TAX SAVING RESOLUTIONS. FOR THE LIFE YOU WANT Building up your nest egg is more discipline than difficult
smartmoney WTK Financial Services Ltd JANUARY / FEBRUARY 2019 PLAN, PREPARE MAKING NEW YEAR S TAX SAVING RESOLUTIONS EXPLORING YOUR ISA OPTIONS Time to give your financial future a boost? KEEPING IT IN
More informationUK SUMMER BUDGET July 2015
UK SUMMER BUDGET 2015 8 July 2015 The Chancellor, George Osborne released his first all-conservative Government Budget since 1997 on Wednesday, 8 July 2015. The Chancellor described this Budget as focusing
More informationINVESTMENT UPDATE. August 2018 PERFORMANCE UPDATE
1 INVESTMENT UPDATE August 2018 PERFORMANCE UPDATE ASSET CLASS REVIEW HIGH RISK EQUALS HIGH RETURNS? WHAT RISK ARE YOU TAKING WITH YOUR MONEY? FINAL COMMENT PERFORMANCE UPDATE The portfolios performed
More informationSavers can reinvest lost ISA funds
Spring/Summer 2012 News Savers can reinvest lost ISA funds New protection to savers who have invested with a collapsed financial institution PLUS Inheritance tax net set to spread wider Pensions cash back
More informationTHE NTT EUROPE COMPANY PENSION GROUP PERSONAL PENSION. A guide to help you prepare for the retirement you want
THE NTT EUROPE COMPANY PENSION GROUP PERSONAL PENSION A guide to help you prepare for the retirement you want Your NTT Europe company pension is provided by Scottish Widows. SUPPORTING LITERATURE AND TOOLS
More informationEnd of Year Tax planning
End of Year Tax planning 2017-18 As the end of another tax year approaches, we are writing with a summary of tax planning ideas which may be of interest to you. Please call if you would like to discuss
More informationPortal Financial Management
Portal Financial Management The Adviser Autumn 2016 Pension Options Are you covered? The basic State pension is only designed to provide a minimum amount of income at retirement. Your Choices at Retirement
More informationROYAL LONDON POLICY PAPER 4. Britain s Forgotten Army : The collapse in pension membership among the selfemployed and what to do about it
ROYAL LONDON POLICY PAPER 4. : The collapse in pension membership among the selfemployed and what to do about it ABOUT ROYAL LONDON POLICY PAPERS The Royal London Policy Paper series was established in
More informationSummary of main changes to terms and conditions
Summary of main changes to terms and conditions Introduction Since you joined the pension plan, we have changed how we manage it on a day-to-day basis to take into account changes in legislation, regulation
More informationTAPERED AND MONEY PURCHASE ANNUAL ALLOWANCES:
TECHTALK This article originally appeared in JAN 18 edition of techtalk. Please visit www.scottishwidows.co.uk/techtalk for the latest issue. TAPERED AND MONEY PURCHASE ANNUAL ALLOWANCES: POST-BUDGET PLANNING
More informationMANAGING YOUR FINANCES. March 2017
MANAGING YOUR FINANCES March 2017 CONTENTS 03 What's your financial game plan for 2017? Gen O struggling to save 04 Investment risk - where are you on the spectrum? IHT planning for couples - changes you
More informationKey Features of the Group Personal Pension 2000 Plan. This is an important document which you should keep in a safe place.
Key Features of the Group Personal Pension 2000 Plan This is an important document which you should keep in a safe place. Welcome to your Key Features Document. It explains all the important information
More information